"Being of Service": How it Can Set You Up to Best Win Negotiations
As president of Los Angeles-based real estate brokerage Partners Trust Real Estate Brokerage and Acquisitions, Nick Segal keeps himself pretty busy. But, as an expert in negotiations (among other things), Nick finds time to share his expertise with the Huffington Post's readership.
Segal has served on The Beverly Hills/Greater Los Angeles Board of Realtors, for over 12 years, as a Presiding Officer for the Professional Standards and Ethics Committee, as well as chaired the Board's Grievance Committee and Ethics Advocacy Committee. Nick has worked in the business of real estate for over 20 years and navigated his way through countless negotiations.
In Segal's most recent Huffington Post blog, he discusses the best way to negotiate without solely focusing on the outcome. I know what you're thinking: how can I negotiate anything without focusing on a potential outcome? I thought the same thing. But, I must say, Nick has some pretty spot-on insights.
In the business of real estate, where your livelihood depends on closing the deal, it would seem difficult to approach a negotiation any other way than with closing in mind. Segal feels that approaching anything with this mindset is sure to strip the process of its enjoyment, and I agree.
If perceived outcome is most important, your process is clouded by uncertain variables. Okay, then the person with the most power in negotiation is the one willing to walk away, right? Perhaps, but that’s not always the best course of action. Most people don't want to walk away.
In a two-party transaction, generally each party has something to gain, which means it's a team effort. Segal encourages any sales-based professional to consider taking the approach of "How can I be of service?" This slight shift in philosophy can make all the difference.
What do you think about this approach to negotiation? Are you willing to give it a try? Let us know in the comments below!